Find out the latest news about car prices going up in January 2024. Big car companies like Maruti Suzuki India, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda Cars India, and MG Motor India are planning to charge more for their cars. Learn why this is happening and how it might affect your plans to buy a new car.
As we start a new year, people who were thinking of buying a car in January might need to get ready for a bit of bad news. Big car companies like Maruti Suzuki India, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda Cars India, and MG Motor India have said they will make their cars more expensive starting next month. In this blog, we’ll talk about why they’re doing this, how it fits with what’s happening in the car world, and what it means for people who want to buy a new car.
Why Are Car Prices Going Up?
The companies are making cars cost more because things like prices going up for everything and the cost of materials used to make cars are going up too. They haven’t said exactly how much more each car will cost, but it will probably be different for each type of car.
Car Companies Change Prices Twice a Year
Car companies usually change how much their cars cost two times in a year. This time, they’re doing it because of things happening in the economy. For example, Maruti, which is the biggest car company in the country, said that the average cost of their cars went up by 16.7% from July to September in 2023 compared to the same time in 2022.
What the Car Companies are Saying
Maruti said in an official note that they have to make cars cost more in January 2024. They said they try their best to make cars cost less, but sometimes they have to make people pay more because things are costing more. Hyundai, getting ready to launch the new Creta in India on January 16, said they will make their cars more expensive from January 1. They said this is because things they need to make cars are costing more now. Tarun Garg, who is the COO of Hyundai Motor India, said they always try not to make people pay more, but this time they have to make cars a bit more expensive.
The End of the Road: Getting Ready for 2024
As we drive into a new year, people who want to buy a car should be ready for things to change. Big car companies deciding to charge more for their cars shows that they are facing problems because things are getting more expensive. While we don’t know exactly how much more each car will cost, one thing is sure: the road ahead in 2024 is going to have some bumps when it comes to buying a car. So, if you’re thinking about getting a new car in January, it might be a good idea to think about these changes and make sure your journey into the new year is smooth.
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